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Dec 15, 2021 4:47 PM

CNBC-TV18 Exclusive | Textile Ministry seeks status quo on GST rates, say sources

The textile ministry has requested the GST Secretariat to keep rates unchanged, sources told CNBC-TV18.

The GST Council has already hiked the rates for many textile and apparel products to 12 percent from five percent.

Dec 15, 2021 4:47 PM

Expect high volatility in market, resistance for Nifty at 17,640: Manish Shah

Independent technical analyst Manish Shah thinks the Nifty may decline further in the coming days. The Nifty may fall towards the recent low of 16,900 once it slips below 17,150, he said. "On the upside, resistance is at 17,640. Till the Nifty moves above 17,550, avoid taking aggressive long trades," he said.

He expects high volatility going forward.

Dec 15, 2021 4:44 PM

Bajaj Finance a fantastic company, valuation a challenge: Sudip Bandopadhyay

Sudip Bandopadhyay, Group Chairman of Inditrade Capital, believes Bajaj Finance is a fantastic company. The company has demonstrated growth and rewarded its shareholders, he said.

"There are challenges from multiple areas and fintech definitely is one kind of a challenge. The biggest challenge is valuation. When the stock is quoting at such a high valuation and a report comes out questioning growth, the sentiment becomes a bit weak. That is reason we have been seeing the selling for the last 5-7 days. I will wait and watch, let things stabilise and then probably recommend a 'buy',” he added.

Dec 15, 2021 4:40 PM

Housing loan space to lead to incremental growth for Kotak Mahindra Bank: Sudip Bandopadhyay

Sudip Bandopadhyay, Group Chairman of Inditrade Capital, believes the principal reason for Kotak Mahindra Bank to not gain momentum was the absence of growth in its loan book. "The valuation at which it was and the growth that it was showing were not matching, and that was the reason the stock got beaten down. Recently, the bank tried to become aggressive and the housing loan space is what it chose. So this will provide it incremental growth,” he added.

Dec 15, 2021 4:37 PM

Positive on Polycab, Sundram Fasteners: Rajesh Kothari

Rajesh Kothari, MD at AlfAccurate Advisors, is positive on Polycab India and Sundram Fasteners. "Polycab is one company that we are holding for almost like two-and-a-half-three years since its listing. It has given a stellar performance. Polycab has a two-fold strategy. One is in the wire and cable business, which is of course Number 1 company, with the best of the balance sheet, and two is the consumer durable business. If you look at the Polycab consumer durable business, the growth achieved by it in the last five years is something many companies could not achieve in the last 10 years. So that speaks a lot about how Polycab is," he said.

"If you look at the recent last 3-6 months, something very important is happening in this company. It is the filling of the gaps in terms of management bandwidth. A very, very senior management has been recruited by the team to make sure that they continue to gain from here on and the vision statement is already out in the last 3-4 months in the investor meeting. You will get more details probably over the next 2-3 months. The bottom line is they will continue to gain market share in wires and cables; they will continue to further gain market share in consumer durables, along wiht a number of product launches and category extension... We believe that you will continue to see very strong earnings growth for next 2-5 years," he added.

Sundram Fasteners

"It is one of the largest companies in the Indian auto ancillary sector with the best of governance... Very importantly, it is a company with very, very strong cost competitiveness. When you are buying any company on the manufacturing side, the one important thing is cost competitiveness. Sundram Fasteners is one of the largest exporters compared to many other companies in Indian auto ancillary names," he said.

"It is the largest exporter with the best of customers. They are benefiting from a global recovery and are also going to benefit from a recovery in the Indian commercial vehicle industry," he added.

Dec 15, 2021 4:30 PM

An agressive Fed could see tech, EM shares drop hard: Mehta Equities' Prashant Tapse

Prashant Tapse, Vice President (Research) at Mehta Equities, believes a more aggressive approach by the Fed could see tech stocks and emerging markets like India drop hard. However, a lax approach could simply see the Nifty head towards the 18,000 mark, he said.

"If the US policymakers keep rates on hold today, one should note that withdrawing support programs is the first step towards tightening, which means the chances of one or two rate hikes in 2022 have increased," he added.

Dec 15, 2021 4:27 PM

Nifty needs to get out of 17,150-17,600 range for a meaningful trend to emerge: Manish Hathiramani

The Nifty50 is still moving in the range of 17,150-17,600, said Manish Hathiramani, Proprietary Index Trader and Technical Analyst at Deen Dayal Investments.

"The market is definitely nervous at higher levels... We would need to get past either levels to see the emergence of a meaningful trend," he said.

Dec 15, 2021 4:17 PM

Rupee ends lower at 76.23 vs US dollar

The rupee ended at 76.23 against the greenback as against its previous close of 75.87.

Dec 15, 2021 4:09 PM

Rupee ends lower at 76.23 vs US dollar

The rupee ended at 76.23 against the greenback as against its previous close of 75.87.

Dec 15, 2021 4:08 PM

Market At Close | 36 Nifty50 stocks in the red

Here are some highlights:

--Nifty Bank fails to hold on to day’s gains, down 105 points

--36 Nifty stocks in the red; Bajaj twins among top losers

--Sun Pharma top Nifty gainer, up 3%

--Infosys, HDFC, Bajaj Finance biggest Nifty draggers

--Kotak Mahindra bank only Nifty Bank constituent in the green

--ITC gives up day’s gains, down 2% after maiden analyst meet

--ITC, Wipro, TCS, SBI Life, UPL, Hindalco below 100-DMAs

--TVS Motor up 2% after company announces agreement with BMW for EV strategy

--Nykaa up 6% after launching skincare brand elemis on global store

--Market breadth in favour of bears; advance-decline ratio at 2:3

Dec 15, 2021 3:57 PM

Market At Close | Sensex sheds 1,019 points in 4 days

Dec 15, 2021 3:48 PM

Market At Close | Bajaj twins, Adani Ports, ONGC among top blue-chip laggards; Sun Pharma, Kotak Bank, M&M, Maruti among top gainers

Dec 15, 2021 3:46 PM

Closing Bell | Sensex down 329 points at 57,788, Nifty50 at 17,221

The 30-scrip index ended 329.1 points or 0.6 percent lower at 57,788 and the broader Nifty50 benchmark settled at 17,221.4, down 103.5 points or 0.6 percent from its previous close. (Read more on the closing bell)

Dec 15, 2021 3:37 PM

Fitch upgrades Tata Consultancy Services' long-term rating to 'A' from 'A-'

TCS shares were down 1.4 percent at Rs 3,572 apiece on BSE in the final minutes of the session.

Dec 15, 2021 3:33 PM

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